The Chinese government has approved a 1.5 billion yuan capital injection into Air China, which will give a push to the air cargo joint venture with Cathay Pacific Airways. The Beijing-based carrier - China's largest international carrier - will receive the funds from its controlling shareholder China National Aviation Holding Co. Air China will use the capital to acquire a minority interest in its cargo unit, Air China Cargo, the airline said in a statement. Launched in 2003, Air China Cargo … [Read more...] about Air China gets government cash infusion
Air China
New cargo JV for Air China/Cathay
Air China and Hong Kong's Cathay Pacific Airways will jointly set up China's biggest cargo joint venture in Shanghai in early 2010 as the two carriers aim to tap the surging cargo volumes out of Shanghai Pudong. Air China will hold 51 per cent and Cathay Pacific will hold the remainder in the joint venture which will see the two carries contributing 10 B747-400 freighters. … [Read more...] about New cargo JV for Air China/Cathay
China’s airlines return to profit in 3Q

China’s three major airlines all returned to profit in the third quarter thanks to stronger passenger demand and lower fuel prices. Air China saw its net profit for the July-September period reach US$125.3 million, compared to a loss of US$288.5 million in the same period of last year. China Eastern Airlines recorded a profit of US$3.4 million, following a US$341.2 million loss a year ago, while China Southern Airlines posted US$41.6 million, having lost US$121.5 million in the … [Read more...] about China’s airlines return to profit in 3Q
China's airlines return to profit in 3Q

China’s three major airlines all returned to profit in the third quarter thanks to stronger passenger demand and lower fuel prices. Air China saw its net profit for the July-September period reach US$125.3 million, compared to a loss of US$288.5 million in the same period of last year. China Eastern Airlines recorded a profit of US$3.4 million, following a US$341.2 million loss a year ago, while China Southern Airlines posted US$41.6 million, having lost US$121.5 million in the … [Read more...] about China's airlines return to profit in 3Q
Air China & Cathay Pacific Airways
Air China has said it will increase its stake in Cathay Pacific Airways to nearly 30 per cent by buying shares from CITIC Pacific at HK$6.335 billion. The Beijingbased airline will buy 491.9 million shares of Cathay at HK$12.88 apiece from CITIC Pacific, according to a statement posted on the Hong Kong Stock Exchange. The deal will make Air China the Hong Kong carrier’s second largest shareholder after British conglomerate Swire Pacific. … [Read more...] about Air China & Cathay Pacific Airways
Air China & Cathay Pacific Airways
Air China has said it will increase its stake in Cathay Pacific Airways to nearly 30 per cent by buying shares from CITIC Pacific at HK$6.335 billion. The Beijingbased airline will buy 491.9 million shares of Cathay at HK$12.88 apiece from CITIC Pacific, according to a statement posted on the Hong Kong Stock Exchange. The deal will make Air China the Hong Kong carrier’s second largest shareholder after British conglomerate Swire Pacific. … [Read more...] about Air China & Cathay Pacific Airways
